[np_storybar title=”Where’s the public outrage over sky-high CEO pay?” link=”https://business.financialpost.com/2013/03/28/say-on-pay-gets-vote-of-approval/”%5D The annual sticker shock of CEO pay may be wearing off. As Canadian companies head into proxy season, so far there seems to be less public outrage over executive compensation. Could it be that a decade of frantic governance reforms has curbed, even slowed, the pace of executive pay increases? Is the public so inured to these stratospheric salaries and bonuses, they’re no longer a lightning rod for protest? Continue reading.

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Stronach, who resigned from the Magna board last year, was paid $44.3-million in a cash profit sharing bonus, a $2.3-million consulting fee, $107,000 for company vehicles and $609,000 for personal use of corporate aircraft, according to regulatory documents filed ahead of the company’s annual meeting.

That compared with a $68,000 in salary, a $38.1-million cash profit sharing bonus, a $2.3-million consulting fee, $101,000 for company vehicles and $414,000 in personal use of corporate aircraft in 2011.

In 2010, Stronach gave up control of the company and became a consultant with Magna.

As part of the deal, he earns a percentage of the company’s profits.

The payments are being gradually phased out and will be eliminated at the end of 2014.

Meanwhile, the documents show that Magna chief executive Donald Walker earned a total of $16.9-million, up from $15-million.

In 2012, Walker earned a salary of $325,000, $5.4-million in share-based awards, $2.7-million in option-based awards, an $8-million cash bonus plus $376,000 in other compensation.

That compared with a salary of $310,500, $3.5-million in share-based awards, $3.9-million in option-based awards, a $6.9-million cash bonus plus $383,000 in other compensation.

Magna is one of the world’s largest auto parts suppliers with more than 300 factories and 88 product development, engineering and sales centres around the world.

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